The Magnesium Chloride Market is expected to generate a revenue of more than thousand US dollars 379.2 million by the forecast year. The Global Magnesium Chloride Market could register a CAGR of 4.30% by the year 2030.The most commonly and naturally available mineral salt which can be extracted from brine and seawater is MgCl2 i.e. Magnesium Chloride. It has chemical properties like the bitter taste, powder form, colorless, and odorless. Its physical properties include water-soluble which makes it highly efficient in absorbing moisture when exposed in the hydrated state to the air. Magnesium chloride is formed by the process of neutralization by the reaction of base (solid magnesium hydroxide) with acid (hydrochloric acid) producing salt (Magnesium chloride (MgCl2)) and water (H2O).
The factor influencing the market growth is major because of the increasing demand for magnesium chloride in various industries. The component offers fast action of deicing ice over rock salt due to advanced chemical properties. This makes proactive use of the Magnesium chloride in geographically cooler countries where ice deposition occurs commonly on the surfaces of vehicles and roads. Magnesium Chloride is used to remove and defrost this ice to avoid accidents.
The different forms of Magnesium chloride available in the market have paved their way into the commercial and residential sectors. The global Magnesium Chloride market is rising at an astral rate owing to the influence of salt in various end-user industries.In order to secure a reliable supply of lithium carbonate, LG Energy Solution has just struck a contract with American company Compass Minerals. In June of this year, the two businesses agreed to a memorandum of understanding about lithium supply. Compass Minerals uses the Great Salt Lake in Utah, United States, to create potassium sulfate and magnesium chloride. The company plans to use the brine waste from this procedure to create lithium carbonate. The U.S. firm uses the environmentally beneficial direct lithium extraction (DLE) technique, which involves taking lithium straight out of salt lakes. There is less carbon dioxide released because to this technique.
COVID-19 Analysis:
The subsequent increase of the COVID 19 pandemic had hampered the growth of the market that is further going to impact the market price. Also, this is disrupting the supply chain mechanism. Many key market players have witnessed these disruptions due to the imposition of permanent and temporary lockdowns in various mushrooming economies. However, the demand and widespread increase of the drug delivery system during the times of the pandemic spread are majorly focusing on the market to grow by the end of the future forecast period in 2024. Many people have pre-existing adverse medical conditions like diabetics, as well as, asthma. This is further driving more people to demand magnesium chloride. These factors are combining and the result of this is the fueled sale and boosting the market production and global manufacturing in the future years. However, some of the government restrictions may intervene that might hamper the market growth during the spread of the global COVID 19 pandemic.The United States Geological Survey estimates that China generated roughly 19,000 metric tons of magnesite in 2019. Some of the largest consumers of magnesite in the country are the agricultural (fertilizers), chemical, construction, industrial, and refractory sectors. However, the recent COVID-19 outbreak has severely harmed the economies of all countries because to disruptions in trade. As a result of the closure of numerous end-user industries in the Asia-Pacific area in the year 2020, there will be reduced demand for magnesite.
Market Dynamics:
- Health benefits like optimized brain functioning, better heart health, improved nerve and muscle functionality, apt blood sugar levels, improved bone health, stronger immune system, negligible risk of migraines, and stronger immune system.
- The use of supplemented magnesium chloride in patients with heart diseases like heart attack, heart arrhythmias, and osteoporosis.
- Faster deicing of ice in cooler regions than rock salt.
- Increased use of Magnesium chloride in commercial and residential sectors due to various nutritional supplement values.
- Use of Magnesium to prevent wind erosion, remove dust mites, and soil stabilization to make it fertile.
- Use of Magnesium chloride for nutrition, medicine, gardening, and horticulture.
- Because of the low stability constant of magnesium chloride, it helps to maintain pH levels in the human body.
- One of the major challenges faced by the Magnesium chloride market is to deal with the toxic nature of magnesium.The popular snow and ice melter PELADOW from OxyChem is now available in a 30 pound bag. Compared to the 50 pounds of magnesium chloride needed to melt the same area of ice, just one 30-pound bag of PELADOW will do the job. When compared to a 50 lb. bag of magnesium chloride, a 30 lb. bag of PELADOW provides the same coverage, so building managers, builders, and distributors may save money on product and transportation costs while making better use of warehouse space. Users of PELADOW can swiftly clear sidewalks to make them safer and increase the number of sites they can service daily. Ice melting tests at 20 degrees Fahrenheit show that PELADOW can break up more ice in 20 minutes than magnesium chloride can in an hour.
Technology Analysis:
The most commonly and naturally available mineral salt which can be extracted from brine and seawater is MgCl2 i.e. Magnesium Chloride. It has chemical properties like the bitter taste, powder form, colorless, and odorless. Its physical properties include water-soluble which makes it highly efficient in absorbing moisture when exposed in the hydrated state to the air. Magnesium chloride is formed by the process of neutralization by the reaction of a base with acid that produces salt (Magnesium chloride (MgCl2)) and water (H2O).
The factor influencing the market growth is major because of the increasing demand for magnesium chloride in various industries like nutrition, medicine, gardening, and horticulture. Other factors influencing the market growth are several health benefits like optimized brain functioning, better heart health, improved nerve and muscle functionality, apt blood sugar levels, improved bone health, stronger immune system, negligible risk of migraines, and stronger immune system, use of supplemented magnesium chloride in the patients with heart diseases like heart attack, heart arrhythmias, and osteoporosis, deicing of ice in cooler regions, use of Magnesium to prevent wind erosion, remove dust mites, and soil stabilization to make it fertile. But one of the major challenges faced by the Magnesium chloride market is to deal with the toxic nature of magnesium supplements which could hinder the market growth of the industry.
Study Objectives:
The objectives of the study on the global Magnesium Chloride Market are:
- A comprehensive and detailed outlook on market trends in the field of study.
- An estimate of market value, market volume, and market share as per the market supply and demand.
- A study on factors driving the market, new opportunities being created, and restraints the market faces.
- An analysis of the market segmentation as type, application, and region.
- A brief note of the leading manufacturers, investors, competitive landscape as per regional analysis, and recent innovations and developments as per data collected by industrial experts.
Segment Overview:
By Form:
The Global Magnesium Chloride Market is segmented based on form as Liquid, powder, and Flakes.
By Grade:
The Global Magnesium Chloride Market is segmented based on Industrial, Pharmaceutical, Food, and Beverage.
By Application:
The Global Magnesium Chloride Market is segmented based on application as Deicing Agent, Chemicals, Derivatives, Pharmaceuticals, Dust Suppressant, Building Materials, Food, Beverage, and Feed.Metals like lithium and copper located in Tier 1 mining zones can be extracted by C29 Metals Limited utilizing cutting-edge technology. After raising A$5.0 million in an IPO in November 2021, C29 Metals made its debut on the Australian Stock Exchange (ASX) with the intention of developing copper, gold, uranium, and base metal assets in Tier 1 Australian mining jurisdictions. This would get over issues brought on by magnesium, calcium, and boron, three common pollutants found in brine.
Regional Analysis:
The Global Magnesium Chloride Market is segmented based on region as:
- The Asia-Pacific held the position of the market-dominant of the Global Magnesium Chloride Market by estimation of registering a CAGR of 5% by the end of the forecast period. This rise is because of rapid urbanization and industrialization in emerging economies like India, China, Indonesia, Thailand, Malaysia, and others.
- The rising demand for magnesium chloride as a deicing agent and anti-icing in the European regions like Norway, Iceland, Switzerland, and Greenland is likely to generate a revenue of more than 50,000 thousand million US dollars during the forecast period.To fund the first stage of its potash development project located north of Pointe Noire, Kanga Potash stated in July 2022 that it was seeking to finance approximately $500 million. Mezzanine financing and other forms of equity will account for about 40% of the total. The Democratic Republic of the Congo (DRC) is well positioned to become a global leader in fertilizer manufacturing due to its advantageous geography and plenty of the necessary raw materials. The thick recoverable carnallite is located at a depth of around a thousand meters, and it is a mineral composed of hydrous potassium-magnesium chloride that is an important source of potassium.
Competitive Landscape:
A detailed study of company overview, production capacities, revenue generated, global presence, new market initiatives, market potential, strengths, and weaknesses of the market is studied under the competitive landscape of the global Magnesium Chloride Market.
The Intended Audience of the Magnesium Chloride Market is:
- Manufacturers of Magnesium chloride supplements
- Wholesalers
- Retailers
- Distributors
- Governments associations
- industrial bodies
- Trade experts and Investors
The magnificent leaders of the global Magnesium Chloride Market are:
- Compass Minerals (US)
- ICL (Israel)
- NikoMag (Russia)
- K+S KALI GmbH (Germany)
- Intrepid (US)
- Nedmag B.V. (the Netherlands)
- DEUSA International GmbH (Germany)
- HuiTai Investment Co. Ltd (China)
- Skyline Chemical Corporation (US)
Recent Developments:
-Magnesium chloride anhydrous resulted in its emergence as the dominant product segment in the market. It enjoyed the largest market share in 2018. The main reason behind this is an increased demand for metal processing, the construction sector, as well as, automotive on a large scale.
-The market segment led by building material is expected to emerge as a dominant player by the end of the global forecast year ending in 2024. There is an ongoing boom in the construction sector that is a result of increased demand for residential, as well as, commercial infrastructure. Also, urbanization is likely to play a major role in helping the segment grow.
-China is the highest producer of MgCl2. This is gaining a lot of government support that is likely to help in the expansion of production lines. This is going to help the regional market grow at a good pace by the end of the global forecast period in 2024.
-In 2018, the APAC region enjoyed the title of being the leading region in the global market and has the largest market share. The region is undergoing innovation, renovation, as well as, refurbishment activities combined with an increase in rising expenditure for road construction, bridges, as well as, infrastructure for public utility.
Report Overview:
The report overview of the global Magnesium Chloride Market is:
- A comprehensive and detailed outlook on market trends in the field of study.
- An update on the going global pandemic and its effect on the magnesium chloride market.
- A study on the various approaches followed by the government and industrial manufactures.
- Trade regulations, Import export analysis, and Production analysis as per historical and current market dynamics.
- An estimate of market value, market revenue, market CAGR, market volume, and market share as per the market supply and demand.
- A study on factors driving the market, new opportunities being created, and restraints the market faces.
- An analysis of the market segmentation as type, application, and region.
- A brief note of the leading manufacturers, investors, competitive landscape as per regional analysis, and recent innovations and developments as per data collected by industrial experts.
- Price trend analysis and Trade route analysis that affect the collaborations between industrial leaders.
| Report Attribute/Metric | Details |
| Market Size | USD 379.2 million |
| CAGR | 4.30% |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Form, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Compass Minerals (US), ICL (Israel), Merck KGaA (Germany), NikoMag (Russia), K+S KALI GmbH (Germany), Intrepid (US),Nedmag B.V. (the Netherlands), DEUSA International GmbH (Germany), HuiTai Investment Co. Ltd (China),Skyline Chemical Corporation (US) |
| Key Market Opportunities | The factor influencing the market growth is major because of the increasing demand for magnesium chloride in various industries. |
| Key Market Drivers | Faster deicing of ice in cooler regions than rock salt. Increased use of Magnesium chloride in commercial and residential sectors due to various nutritional supplement values. |
Magnesium Chloride Market Highlights:
Frequently Asked Questions (FAQ) :
The magnesium chloride market is projected to grow at a 4.30% CAGR between 20210-2030.
The magnesium chloride market is predicted to touch USD 379.2 million by 2030.
The Asia Pacific is expected to dominate the magnesium chloride market.
It finds extensive applications in food and feed, pharmaceuticals, dust suppressant, and others.
Availability of substitutes may hamper market growth.
The Magnesium Chloride Market value is expected to surpass US$ 379.3Mn in 2021. The market is likely to register growth at 4.30% CAGR during the assessment period between 2021 and 2030.
$379.2Million
4.30%
Asia-Pacific
2021-2030
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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